Stock price when the opinion was issued
This is the one he likes in the space. Part of its business is very utility-like. Steady dividend, which will rise over time. Dividend also looks attractive in the face of an economic slowdown when interest rates would fall. Hold for the long haul.
More pipeline builds would certainly be an opportunity for growth for this name, but that's not why he owns it.
Defensive assets are garnering less and less of a bid as people become more comfortable with economic risk. Used this name as a source of cash to add more beta to portfolios. Great company, but relative price performance has started to back off for the pipelines group. Pipelines carry a lot of debt, and financing costs could get more expensive if long-term yields stay high.
Likes it short and long term. They touch 30% of all LNG and 25% natural gas in North America. There was data centre hype in this stock, but faded after DeepSeek last week. Pays a 5% dividend yield. Likes it more after spinning off South Bow, a pure play natural gas company.